A cryptocurrency mining pool in North Carolina shut down its website the day after regulators issued a securities fraud cease and desist order—then told investors they hadn't lost their money while administrators vanished with their cash.
Power Mining Pool received the cease and desist from North Carolina on March 6th. By the next morning, the website was offline.
The company's official explanation: server upgrades. "We are updating our server to a much faster and powerful server and is taking longer than we expected, so please be patient with us," the posted message read.
Nine days passed. The website stayed dark. What investors found instead was a parked domain at registrar NameSilo, with no connection to any company hosting.
Panicked investors began demanding answers. What they got were three reassuring messages posted on March 8th—all variants of the same empty promise.
"Please, we are not running away," one message claimed. "Things are just getting out of control here and we are working on them."
A second update promised: "We will be updating you guys soon. Thanks for your patience and be positive about us."
The final message, hours later: "We are coming back and No, you haven't lost your money. Hopefully next week the site will be back online."
That was it. The last known communication from Power Mining Pool to its investors. No further explanation came. No updates. No answers.
The timing told the real story. Regulators issued the fraud order on March 6th. The site went down March 7th. The reassurances came March 8th. Then silence.
Desperate investors—most believed to be based in the US—flooded message boards and forums asking what happened to their money. Their pleas went unanswered. No one from Power Mining Pool ever explained what got "out of control" or how it would be fixed.
The pattern is textbook. Issue calming statements. Buy time. Disappear. The cease and desist order itself suggested investigators already knew something was wrong with how Power Mining Pool operated. Whether classified as a Ponzi scheme or outright theft, the result is the same for the people who invested: their money is gone, and the people responsible are nowhere to be found.
🤖 Quick Answer
What triggered Power Mining Pool's website shutdown?Power Mining Pool shut down its website on March 7th, following a securities fraud cease and desist order issued by North Carolina regulators on March 6th. The company claimed server upgrades caused the outage, though the site remained offline for nine days before becoming a parked domain.
How did Power Mining Pool respond to investor concerns?
The company initially attributed the shutdown to server maintenance, stating upgrades to faster infrastructure were taking longer than expected. However, as the website remained inaccessible and administrators disappeared, investors received no substantive answers regarding their funds or the cease and desist order.
What evidence indicated fraudulent activity at Power Mining Pool?
The cease and desist order from North Carolina regulators classified Power Mining Pool's operations as securities fraud. The rapid website shutdown following the order, combined with administrators vanishing while investors' money disappeared, suggested deliberate concealment of
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